The third monetarist proposition asserts that in the short run,
a. changes in money demand are the dominant factor causing cyclical movements in output and employment.
b. money supply is only one of many factors resulting in cyclical movements in output and employment.
c. money primarily influences the price level and other nominal magnitudes.
d. None of the above
Question 2
Prices, on average, increased in the food market; the demand for food had simply grown faster than supply from the end of the Civil War in 1865 to the beginning of World War I in 1913.
Indicate whether the statement is true or false
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The Economics of Money, Banking and Financial Markets, Business School Edition
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